Bond Traders Weekly Outlook: Treasuries Soar on Soft Data Ahead of CPI and Powell

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #50664
    TradersCom
    Keymaster

    Bond Wrap: U.S. Treasuries good start in 2023 with gains across the curve. General growth concerns the catalyst

    Yields
    2-yr: -5 bps to 4.37%
    3-yr: -7 bps to 4.17%
    5-yr: -6 bps to 3.94%
    10-yr: -10 bps to 3.78%
    30-yr: -10 bps to 3.87%

    Number of sub-50.0 PMI readings (the dividing line between expansion and contraction).

    December Manufacturing PMI reports out of Asia and Europe. Falling energy prices, a stronger dollar, and some improved inflation data out of Germany helped the back end of the curve outperform.

    The U.S. Dollar Index was up 1.1% to 104.53.

    Wednesday’s session will feature the December ISM Manufacturing Index, the JOLTS – Job Openings Report for November, and the release of the FOMC Minutes for the December 13-14 meeting, all of which will feed expectations about the future path of the Fed’s monetary policy.

    #50506
    TradersCom
    Keymaster

    U.S. Treasuries closed out the first week of 2023 in beastly form Friday following the December jobs report average hourly earnings growth moderating
    [See the full post at: Bond Traders Weekly Outlook: Treasuries Soar on Soft Data Ahead of CPI and Powell]

Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.